What is the Homeownership Program?
The Lawrence-Douglas County Housing Authority receives federal funding to prepare housing residents to successfully transition from renting to homeownership. Designed for tenants who are at 50% of the Area Median Income or greater, the program’s main purpose is to move families toward self-sufficiency so they can purchase and maintain a home.
Sustainable homeownership is a major vehicle for building wealth and economic opportunity. Homeownership is the largest source of household wealth in the United States and potentially benefits both individual households and society at large by countering poverty. Homeownership contributes to financial security and stability by offering homeowners protection from rising housing costs, increased savings and purchasing power, the ability to borrow against the equity of the home, and the opportunity to refinance at lower interest rates. Financial gain is not the only reason a majority of American households aspire to own a home; social benefits are also associated with homeownership. Homeowners view their communities as stronger, safer, and more stable and are more likely to say they feel connected to others, know their neighbors, and are more civically engaged. Homeownership has also been linked to better physical and psychological health.
How Do I Participate?
Call the Resident Services Office: (785) 842-1533
Megan D. Bahm is the Employment and Financial Literacy Specialist who coordinates the Homeownership Program and will work with you to provide services such as:
• Budgeting to increase savings, money management, wealth creation, and repairing credit to increase credit scores and access to lending
• Workshops and programming designed to assist you in navigating the home buying process
• Savings matching program that matches up to $3,000 toward the down payment of your home or other home-related expenses
For more information contact:
Megan D. Bahm
Employment and Financial Literacy Specialist
Resident Services Office
1600 Haskell Avenue #187
Lawrence, KS 66044
Telephone: (785) 842-1533
Fax: (785) 841-8541